Citigroup Inc. started a new service to compete with First Data Corp.'s Western Union and rivals for the estimated $10 billion of transfers from Mexicans working in the U.S. to their families back home. The world's largest financial services company will let U.S. customers set up transfer accounts that may be accessed by customers at its Banamex branches in Mexico with a new card, the bank said. Citigroup plans to charge $7.

Enron Corp., the biggest energy trader, has asked Citigroup Inc. to arrange a $750-million loan, ensuring access to credit if the beleaguered company is cut off from money markets, say people familiar with the matter. Enron's shares and bonds plunged after the firm said the Securities and Exchange Commission was probing its finances.

A federal judge in New York approved a $2.6-billion settlement of a class-action lawsuit by WorldCom Inc. investors who claimed they were defrauded by Citigroup Inc. The settlement is the second largest ever in a securities fraud case. More than 170,000 WorldCom shareholders and bondholders have filed claims against Citigroup. The Ashburn, Va.-based long-distance company was renamed MCI Inc. after emerging from bankruptcy in April.

Golden State Bancorp Inc. said it settled shareholder lawsuits after Citigroup Inc. agreed to reduce the fee the California thrift must pay if it backs out of its proposed sale to the world's largest financial services company. Golden State, the No. 3 U.S. thrift company, said it will pay Citigroup $42.5 million to $160 million if it cancels the deal. The bank had agreed to pay $117.5 million to $235 million. Citigroup said in May that it would pay about $5.

Citigroup Inc. said Tuesday that it planned to combine its debt and equity underwriting operations into one division and merge its stock and bond sales units. The combined underwriting group will be led by Tyler Dickson, 40, while the new sales group will be co-led by Antonio Cacorino and James O'Donnell, 46, according to an internal Citigroup memo.

Citigroup Inc., which has been at the center of government probes into alleged Wall Street misconduct, will create a unit to house its stock research and retail brokerage operations and has hired a well-respected executive to run the division. The surprise move is aimed at eliminating the potential conflicts of interest that have sparked multiple government investigations of Wall Street's practices in the late 1990s, Citigroup said.

The staff of the Securities and Exchange Commission is considering recommending charges against two former Citigroup Inc. employees and a current employee, the financial services giant said Friday. The possible charges relate to the creation and operation of an internal transfer agent unit to primarily serve the Smith Barney family of funds, according to a Citigroup filing with the SEC. Transfer agents keep shareholder records and issue new share certificates.

Citigroup Inc. said it named Todd Thomson as chief financial officer and Victor Menezes as chairman and chief executive of its Citibank North America unit, succeeding John Reed. Analysts say both Menezes and Thomson could be candidates to succeed Chairman Sanford Weill, 67, who announced this month that he will name an heir apparent within two years. Weill declined to comment on succession. Thomson, 39, has been overseeing private banking at Citibank.

Executives at financial giant Citigroup Inc. are preparing to re-brand the company with a shorter name, "Citi," and a new logo without the signature red umbrella, according to a published report. The new name and look will be presented to Citigroup's board this week after a 14-month review of the bank's brand, the New York Times reported Monday, citing executives close to the process. The plan still could undergo changes before a rollout that could begin as early as next month, the report said.